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Session 1& 2

The document introduces Mustafa Farhat with his contact details and education. It then lists some characteristics of a successful person including specializing in their field of study, English proficiency, computer skills, and familiarity with management principles.

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mujibdurani01
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17 views36 pages

Session 1& 2

The document introduces Mustafa Farhat with his contact details and education. It then lists some characteristics of a successful person including specializing in their field of study, English proficiency, computer skills, and familiarity with management principles.

Uploaded by

mujibdurani01
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
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Download as PPTX, PDF, TXT or read online on Scribd
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‫معرفی مختصر مصطفی فرحت ‪:‬‬ ‫‪‬‬

‫استاد دانشگاه در پوهنتون های خصوصی‬ ‫‪‬‬

‫لیسانس پوهنتون کابل‬ ‫‪‬‬

‫ماستری پوهنتون کابل‬ ‫‪‬‬

‫شماره تماس ‪0786144273‬‬ ‫‪‬‬

‫ایمل آدرس‪Mustafa_Farhat@gmail .com :‬‬ ‫‪‬‬


‫ویژگی های یک انسان موفق‬
‫تخصص دررشته خود (مطالعه کتابها – مقاالت وپژوهش ها)‬ ‫‪‬‬

‫آشنایی به لسان انگلیسی ( ‪TOEFL‬‬ ‫‪‬‬

‫آشنایی به کمپیوتر و انترنت (‪)Window, Office, Internet‬‬ ‫‪‬‬

‫آشنایی با مدیریت (اصول مدیریت – مدیریت منابع انسانی – اصالحات‬ ‫‪‬‬

‫اداری )‬
Principle of Accounting
Chapter # 1
Learning Objectives
 Accounting Definition
 Terminologies of accounting
 Difference between cash and credit

transaction
Accounting
 The art of recording, classifying &
summarizing all the business transaction &
events of financial character to prepare
financial statement.
Transaction
 Transaction: Any dealing between two
persons is a transaction.
 It may relate to purchase and sale of goods,

receipt and payment of cash & rendering of


service by one party to another.
 Transaction is of two kinds:
 Cash Transaction
 Credit transaction
Cash Transaction

Cash Transaction: when cash is paid or received


as a result of an exchange, the transaction is
said to be a cash transaction.
Credit Transaction:
When the payment or receipt of cash is
postponed for a future date, this transaction is
said to be credit transaction.
Assets
Anything which has a value and possessed by a
business organization with the following three
features is assets.
 The legal title of ownership
 Right to use
 Right to sale

The example of assets is cash, account


receivable, stock, land, building, furniture,
machinery, investment etc.
Kinds of Assets
Current assets:
easily convertible into cash.
Example of current assets are cash in hand,
cash in bank, account receivable and stock etc.
Non-current assets
I s types of asset which is earn profit other then
business income.
Such as investment, share of other companies,
fixed deposits etc.
Fixed Assets
These assets are acquire to retain and use in
business operation.
e.g. Land, Building, Plant & machinery,
Furniture, vehicle etc.

Intangible assets:
The assets, which are not physically touchable,
but still valuable for business, e.g. Good Will,
Trademark, Preliminary expenses etc.
Liabilities
the claim of outsider against the assets of firm.
The liabilities are also called external equities. It
may be of the following types
 Current Liabilities

payable within one year is called current


liability.
Ex : A/P ,Note payable, expenses payable, bank
overdraft etc
Long term liabilities
 Which is not payable within one year are
called long term liability.
Ex: bank loans, mortgage loans etc.
Expense
The cost of goods or service use in a process
to obtain revenue.
Ex: food exp, salary exp, stationery exp,
Advertising exp, rent exp.
Revenue
 All income received form sales of goods or
service is called revenue.
eg: rent income, salary income, interest
received, commission received .
Definition of "Equity "

 the amount invested by the owner for


operation of business is called Equity.
purchase

 To buy a product or service.


 Ex: mobile, computer, building, car, land it Citra.

sales
1.The activity or business of selling
products or services.
Discount

 It is a deduction from the price of goods sold


or purchased.
 Types of discount
 Cash discount
 Trade discount
capital expenditure

 An expense related to the purchase or


improvement of business property, buildings,
Net income

 A company's profit after deducting


all expenses and taxes.
Drawings

 Cash or goods taken away by the owner from


business for personal use are called
drawings.
Inventory

 An accounting of stock on hand,


including raw materials needed to produce
finished products.
Depreciation
 decreased value of an asset due to wear and
tear or age.
Question Answer Session
Accounting Cycle
 . The series of steps begin when a transaction occurs and
end with The nine steps of the accounting cycle are:

 Collecting and analyzing data from transactions and events.


 Putting transactions into the general journal.
 Posting entries to the general ledger.
 Preparing an unadjusted trial balance.
 Adjusting entries appropriately.
 Preparing an adjusted trial balance.
 Organizing the accounts into the financial statements.
 Closing the books.
 Preparing a post-closing trial balance to check the accounts.
 Also known as "bookkeeping cycle".
Accounting Cycle
Vouchers
Document, receipt, stamp, or the like, that give
s evidence of an expenditure.
Chart Of Accounts
A chart of accounts is a listing of the names of
the accounts that a company has identified and
made available for recording transactions in its
general ledger. A company has the flexibility to
tailor its chart of accounts to best suit its
needs, including adding accounts as needed.
Chart of accounts
Current Assets
(account numbers 10000 - 16999)
10100 Cash - Regular Checking
10200 Cash - Payroll Checking
10600 Petty Cash Fund
12100 Accounts Receivable
12500 Allowance for Doubtful Accounts
13100 Inventory
14100 Supplies
15300 Prepaid Insurance
Chart of accounts
Property, Plant, and Equipment
17000 Land
17100 Buildings
17300 Equipment
17800 Vehicles
18100 Accumulated Depreciation - Buildings
18300 Accumulated Depreciation - Equipment
18800 Accumulated Depreciation - Vehicles
Chart of accounts
Current Liabilities
20100 Notes Payable - Credit Line #1
20200 Notes Payable - Credit Line #2
21000 Accounts Payable
22100 Wages Payable
23100 Interest Payable
24500 Unearned Revenues
Chart of accounts
 Long-term Liabilities
25100 Mortgage Loan Payable
25600 Bonds Payable
25650 Discount on Bonds Payable
Chart of Accounts
Stockholders' Equity (account numbers 27000 -
29999)
27100 Common Stock, No Par
27500 Retained Earnings
29500 Treasury Stock
Charts of accounts
 Operating Revenues
31010 Sales - Division #1, Product Line 010

Cost of Goods Sold


41010 COGS - Division #1, Product Line 010
Chart of Accounts
Payroll Dept. Expenses (account numbers
59000 - 59999)
59100 Payroll Dept. Salaries
59150 Payroll Dept. Payroll Taxes
59200 Payroll Dept. Supplies
59600 Payroll Dept. Telephone
Chart of accounts
 Other (account numbers 90000 - 99999)
91800 Gain on Sale of Assets
96100 Loss on Sale of Assets

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